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Stock impact report

Culp, Inc. Announces Strategic Transformation of Operating Model Following Completion of Restructuring Initiatives [Yahoo! Finance]

Culp, Inc. (CULP) 
Last culp, inc. earnings: 3/4 04:15 pm Check Earnings Report
US:NYSE Investor Relations: culpinc.gcs-web.com/investor-overview
Company Research Source: Yahoo! Finance
residential and commercial furniture, today announced the strategic transformation of its operating model to further position the Company for flexibility and growth. The Company will combine its two stand-alone operating divisions, Culp Upholstery Fabrics and Culp Home Fashions, into a single, integrated business designed to optimize operational agility and collaboration, further streamline costs and processes across its business, and, most importantly, increase responsiveness to customer needs and market trends. As an initial step in this integration, the Company will close the leased facility operated by its upholstery fabrics division in Burlington, North Carolina, and transition the production and distribution activities there to a shared management model within the Company-owned facility in Stokesdale, North Carolina, currently operated by its mattress fabric division. The Company expects to generate annualized efficiency improvements and cost reduction benefits of approximatel Show less Read more
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